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India Inc. is poised for low single-digit earnings growth in the October-December quarter of the financial year 2019, according to Emkay Global Financial Services.

“There is a decline in margins in the December quarter on an aggregate basis and that seems to be from a lingering impact of high commodity prices and raw material prices earlier on,” said Dhananjay Sinha, head of research at Emkay Global Financial Services in a conversation with BloombergQuint.

The decline in margins, along with the sales growth which is expected to come in lower at 11 percent from 13 percent, will lead to a lower profit growth, Sinha said, adding that the impact of declining crude oil prices during the quarter will also reflect with a lag.